$ETH , one more thing:
Spot ETFs have seen net outflows for six consecutive days, totaling more than $500 million. BlackRock had the largest outflows. Whether money is pulling out is already clear from the data. It’ll be hard for the market to quickly turn around and stage a big rally in the short term, but some people see one bit of good news and start shouting that the bull market is back, Bitcoin is heading for 75,000, and Ethereum will rise to 2,200.
Caibao thinks we shouldn’t get our hopes up just yet. Before money actually flows back in, these targets are mostly just wishful thinking driven by sentiment. That recent drop wasn’t just an ordinary pullback either. As prices fell, long positions started to buckle. Stop-losses and liquidations piled on, selling pressure kept building, and it eventually triggered a cascade of declines!
In a market like this, a rebound doesn’t mean a reversal. Don’t rush to chase longs or try to catch a falling knife! Bitcoin has already fallen below the 68,000 support level. Is anyone still calling the bull market back?
Spot ETFs have seen net outflows for six consecutive days, totaling more than $500 million. BlackRock had the largest outflows. Whether money is pulling out is already clear from the data. It’ll be hard for the market to quickly turn around and stage a big rally in the short term, but some people see one bit of good news and start shouting that the bull market is back, Bitcoin is heading for 75,000, and Ethereum will rise to 2,200.
Caibao thinks we shouldn’t get our hopes up just yet. Before money actually flows back in, these targets are mostly just wishful thinking driven by sentiment. That recent drop wasn’t just an ordinary pullback either. As prices fell, long positions started to buckle. Stop-losses and liquidations piled on, selling pressure kept building, and it eventually triggered a cascade of declines!
In a market like this, a rebound doesn’t mean a reversal. Don’t rush to chase longs or try to catch a falling knife! Bitcoin has already fallen below the 68,000 support level. Is anyone still calling the bull market back?
